Edition:
United Kingdom

Tarmo Virki

Uber-rival Bolt to invest over 100 million euros in European e-scooter market

12 Nov 2020

TALLINN Estonia-based ride-hailing service Bolt said on Thursday it would invest over 100 million euros ($118 million) in 2021 to become the largest e-scooter rental firm in Europe, at a time when cab services have been severely hit by the COVID-19 pandemic.

Estonia's Skeleton Technologies raises $48 million to fuel growth

02 Nov 2020

TALLINN, Nov 3 Estonian energy storage technology maker Skeleton Technologies said on Tuesday it has raised 41.3 million euros ($48 million) from a group of investors in one of the largest cleantech investment rounds in Europe this year.

UPDATE 2-Finland's Valmet sales decline sends shares lower, repeats Neles interest

27 Oct 2020

Oct 27 Finnish engineering firm Valmet posted a sharp drop in sales on Tuesday, helping send its shares to their lowest in five months even as earnings beat market expectations.

UPDATE 2-Nordic IT services firm TietoEVRY says pandemic hits third quarter sales

27 Oct 2020

Oct 27 Nordic IT services provider TietoEVRY reported a slight fall in third-quarter profit on Tuesday as the economic impact of the coronavirus hit sales.

UPDATE 2-Neles board backs Alfa offer over Valmet

12 Oct 2020

Oct 12 The board of Finnish engineer Neles is sticking with its recommendation for shareholders to accept a takeover offer from Alfa Laval, saying it does not have enough details on a rival merger proposal from Valmet to make a comparison. Valmet, the largest shareholder of valves maker Neles, approached Neles in September with a merger proposal, challenging a $2 billion bid from Swedish engineering group Alfa Laval.

Finnair to cut up to 1,000 jobs, seeks further savings

25 Aug 2020

Finnish national carrier Finnair plans to cut up to 1,000 jobs, or about 15% of its workforce, and seek further savings across its operations, joining airlines across the world in making cut backs to cope with the COVID-19 crisis.

Fortum second quarter operating profit drops 11%, Russia weighs

19 Aug 2020

HELSINKI Finland's biggest utility Fortum reported an 11% fall in its underlying second-quarter operating profit on Wednesday, dented by low power prices and the impact of the new coronavirus on its Russian business.

Nordic IT firm TietoEVRY to pay dividend after second quarter profit rise

24 Jul 2020

Nordic IT services provider TietoEVRY reported on Friday a rise in second-quarter underlying profit, helped by cost cuts following the takeover of EVRY business last year, and said it would pay a dividend.

Finnair sees steep third-quarter loss, shares drop

24 Jul 2020

Finnair plunged to a second-quarter loss as the coronavirus pandemic kept most flights grounded, and said it would make a similar loss this quarter, despite an increasing number of flights.

UPDATE 1-Finnish retailer Stockmann sinks to Q2 loss

24 Jul 2020

July 24 Struggling Finnish retailer Stockmann swung to a second-quarter operating loss as the coronavirus outbreak kept customers away from its department stores, and said it was focused on reducing costs to stave off bankruptcy.

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